Author: Adrienne Gonzalez

Adrienne is a 15-year veteran of the accounting industry, if by "veteran" you mean "vulture prowling the periphery of the profession waiting for something exciting to happen." She has been spewing vitriol on Going Concern since the site was founded in 2009. A former CPA review employee, she has sat through more FAR classes than any CPA exam candidate ever could -- even one who has failed FAR seven times -- and can still recall most of the mnemonics all these years later.

This Trick *May* Give CPA Candidates a Sneak Peek at Whether They Passed the Final Section of Their Exam

Maybe we shouldn’t publish this, lest TPTB catch on and close this loophole but as it’s soon to be CPA exam score release season, we figured it might be helpful to share this little trick to get your score early.


Note, word is it only works if you are on your last section and testing in a NASBA state. It doesn’t work all the time and will really only give you your score a day or so earlier than you would have actually received it from your state.

So if you’re waiting for a score now, don’t bother, it doesn’t work until the AICPA releases scores to NASBA, which is supposed to be within a 7-10 day period beginning the third week of September for this quarter.

To try it, follow these simple steps:

1. Go to the CPA exam section of NASBA’s website and select Ohio regardless of which state you are testing in.

2. Choose Apply Now under the “Re-applying for the Uniform CPA Examination” tab.

3. You will be asked if you have an Ohio jurisdiction ID. Choose no and it will ask you if you have a Social Security number. Choose yes.

4. Follow the rest of the prompts, plug in the information it asks you for and if you get the following message, congratulations, the loophole worked and you passed:

We are sorry. Our system shows that you have already passed all parts of the Uniform CPA Examination. If you have questions, please call your Coordinator at the number given below. Please call the number below.

800-CPA-EXAM
615-880-4250

Some have stated that the loophole also works if you’ve failed. If you get in and see the exam section you are checking on not grayed out, that means it’s allowing you to get a new NTS which obviously means you did not pass.

Bottom line: maybe it works, maybe it doesn’t. If you’re driving yourself insane refreshing your score page waiting for an answer, maybe it wouldn’t hurt to try at the end of the month but you’re really only getting the news a few hours earlier than you would have if you just waited.

Is the AICPA Allowing Duplicate Questions to Slip into the CPA Exam?

According to one CPAnet forum user, they are. Here’s the note the candidate wrote to the AICPA:

I recently took FAR and noticed I got the same question more than once (exact same question and answer choices) in different testlets. The same instance happened in prior exams last quarter as well, more noticeably in the new content areas outlined in the CSO’s (i.e. duplicated IFRS questions/answers). According to other candidates who’ve taken the exam this year, they have been getting duplicate questions also, sometimes several duplicated questions. Are these duplicates graded and weighted equally, or is one thrown out since it’s a duplicate? It doesn’t seem fair if they are both graded and weighted if you get the question wrong, but could be great if you got them right (essentially getting a free pass on the repeated question since you knew the answer). If both are graded it could ‘jip’ the candidate out of a passing score if they were close to 75 because an alternate question wasn’t asked in place of the duplicate. I’d appreciate any guidance you can give me and perhaps post this situation in the FAQ area since I know multiple candidates have had the same anomaly during their exams.

And here is the AICPA’s response:

You stated that you received the same question more than once. Similar questions may be in the test; however, they are not identical. We have special coding and technology controls in place to ensure that questions are not repeated within a testlet. [Off topic bit about pretest questions that has nothing to do with this candidate’s issue removed]

The candidate went on to take issue with the AICPA’s use of “testlet,” insisting that repeat questions did not appear within the same testlet but within the same exam.

While the AICPA has agreed to look into this candidate’s issue, unfortunately there is no way for him (or her) to review his exam and confirm his suspicions. I’m assuming here that the candidate has not yet received his score for FAR, and even if he did, he would have two options: score and review appeal.

A score review is a waste of money that almost never results in a changed score, and involves an automated process that essentially confirms exam quality control procedures. Since the advent of the computerized exam in 2004, less than 1 percent of score reviews have changed a failing score in a candidate’s favor.

The second option, an appeal, could be completely useless or incredibly insightful, depending on how the candidate answered the questions he feels were duplicates. An appeal is a slightly more involved process but would allow the candidate to view the multiple choice test questions or objective simulation problems that he answered incorrectly together with his responses. Appeals are not available in all jurisdictions.

For all the time and effort the AICPA puts into administering the CPA exam, I’m going to guess that the candidate mistakenly believed very (read: VERY) similar questions to be exactly the same. Anyone studying for the exam knows that just one word can change a question completely.

AICPA Outlook Survey: This Double-Dip Recession Just May Be Happening

Just in time for President Obama’s jobs conversation to a joint session of Congress, the AICPA has released its latest quarterly economic outlook survey results. Long story short: sentiments aren’t high among financial professionals surveyed.


The outlook for the U.S. economy turned negative in the third quarter for the first time since 2009 as prospects for recovery waned and concerns about a second recession rose, according to the latest AICPA Economic Outlook Survey of Chief Financial Officers, Controllers and CPAs in executive and senior management accounting roles.

The CPA Outlook Index, a broad-based composite index that captures the expectations of CPA financial executives and management accountants, declined 8 points to 58 this quarter, down from 66 in the prior period. The survey, conducted in August, tallied 1,305 qualified responses from CPAs who hold leadership positions, such as chief financial officers or controllers in their companies.

“For the second consecutive quarter, the CPA Outlook Index declined as turbulence in the political and economic environment eroded the sense earlier this year that a recovery was taking hold,” said Carol Scott, AICPA vice president for business, industry and government. “A majority of our CPA members in executive financial roles now fear a second recession may be likely.”

The decline in the CPA Outlook Index was fueled by a sharp drop in sentiment about the U.S. economy.

A whopping 61 percent majority of respondents said they think it is “somewhat likely” or “very likely” the U.S. will fall into a double-dip recession. Only 9 percent of CPAs serving in executive positions expressed optimism about the U.S. economy in the third quarter, down 24 percentage points from 33 percent who were optimistic in the second quarter.

It is reasonable to point out here that though the CPA Outlook Index turned negative this quarter, it is still above the 4-year low of 32 in the first quarter of 2009.

U.S. economy optimism plummeted a whopping 28 points from 53 to 25. Of the major index components, none changed positively quarter-over-quarter for 2011.

While the outlook for respondents’ own organizations is not as rosy as it was earlier this year, it has not dropped as sharply as the outlook for the US economy. Optimists also still outnumber pessimists, with 41% of the CPA decision-makers indicating that they are optimistic about the outlook for their own organizations over the next 12 months, while only 21% are pessimistic. Expectation for expansion also dropped again this quarter but a majority of respondents (53%) still expect to expand at least somewhat in the next 12 months. This is down from 61% who expected expansion last quarter.

Executive summary of the survey results can be found here.

Making Time to Study for the CPA Exam

The number one complaint I would hear back in my CPA review days (besides moans and groans about me being a hard ass) was, without a doubt, “I don’t have time.” Not “I’m too busy,” but “I don’t have time.” Think about the difference between those two statements for a moment. One implies that you have too much going on to make time, while the other more clearly states that you simply cannot jam 25 hours into a 24 hour day.

What many people don’t realize is that you can make time, it’s just a matter of figuring out where it’s hiding in your life.


Cruising Facebook can easily turn into a three-hour stalk-fest if you’re not careful but what about the several, quick check-ins you might make in a single day? That time adds up. Do yourself a favor and shut down TweetDeck, close out your Facebook tab and keep your phone charging in the other room so you aren’t tempted with texts and social media. Don’t worry, you aren’t going to miss anything.

Are you making the most of every break you get during the work day? You might look at me like I just licked a frog and am tripping my non-existent balls off for saying that but you do get breaks, even if you’re getting worked like a dog. They allow you to go to the bathroom, right? Bring your phone in there and do a few MCQ on your favorite app while you’re sitting there. Trust me, no one is going to bring it up if you start spending 10 extra minutes in the restroom a day, no one wants to have that conversation.

What about mornings? I know, it’s horrible to even consider but you could potentially have hours to study that you are wasting with sleep. Start setting your alarm an hour early to get some studying in and do it every day; after 3 weeks, your internal clock will be used to it and it’ll hurt less.

Are there things you’re doing around your house that your wife/husband/girlfriend/boyfriend/kids/cat could just as easily do? Try asking them. Maybe you don’t need to make dinner every night or do as much laundry as you do. Hand off a few chores to other people (unless you don’t have any other people to hand them off to, in which case you might consider paying for a little help around the house if you can afford it) and you’ll free up enough hours over the course of a week to get through at least two modules.

To figure out where you can make time in your life for studying, sit down and account for every single hour of every single day for a week, from the time you get up until the time you get to sleep. I bet if you actually add up those 35 minute showers, time spent folding other peoples’ laundry and the 75 different 3 minute Facebook peeks you make, you’ll realize you have more time to study than you thought.

Delaware CPA Exam Candidate Isn’t Sure About Audit Hours

Are you a CPA exam candidate desperate for answers with no clue how to find them? Let me do the Googling for you, shoot me a note and I promise I won’t get snippy (my doctor adjusted my dose).

Hello Adrienne,

I do have 99.99% of the education requirements needed to sit for the CPA exam. All but one, I don’t have any auditing credit hours. Am I going to be able to sit for the CPA or should I go back to school and complete this requirement?

Here’s the good news: in some states, you can sit for the exam before you meet all licensure requirements, and in most, that means experience can wait until you have sat for and passed all exam sections. The lengtave to complete these experience requirements varies by state and due to the ever-changing nature of exam requirements, you will want to verify any information I’m about to give you with the state board directly just to be safe. No one’s perfect, especially me. Delaware candidates may contact NASBA’s Delaware coordinator Misun Shin at mshin@nasba.org or (615) 880-4263.

So, once you sit for and pass all four parts of the CPA exam, you’ll need to take the AICPA ethics exam, which you can order directly from them. Don’t trip too hard, it’s self-study meaning open book. AICPA members get it cheaper than non-members so be sure to join first before you buy it.

Assuming you’ve aced those two steps, you can then worry about your experience.

Delaware work experience is based on the degree you hold. If you have a Master’s, you will need 1 year of experience as an employee of a CPA firm or equivalent experience as an accountant in other fields (e.g., government, commerce, industry). Bachelor’s holders must have 2 years of experience and Associates (yes, Delaware allows you to sit for the exam with a 2 year degree) must have 4 years of experience to be licensed to practice as a CPA in that state. You can no longer receive a certificate (non-practicing CPA title) from Delaware as of 2006.

Your other option is to complete your work experience requirement as an owner, principal or employee of a public accounting firm (full-time). Double the numbers above; 2 years for Master’s holders, 4 for Bachelor’s and 8 for an Associate.

Nowhere on the Delaware Board of Accountancy’s site do I see a mention of audit hours.

The Delaware State Society of CPA’s BeaCPA website states:

2 years experience obtained in engagement, resulting in the preparation and issuance of financial statements prepared in accordance with generally accepted accounting principles or other comprehensive bases of accounting as defined in the standards established by the American Institute of Certified Public Accountants

as a requirement for Associate and Bachelor’s holders. Master’s candidates must obtain 1 year experience including any type of service or advice involving the use of accounting, attest, compilation, internal audit, management advisory, financial advisory, tax or consulting skills.

What this says to me is that you don’t actually need audit hours at all unless you plan on doing audits. Delaware would like auditing to be a part of your 21 required accounting units that make up your education requirement but does not require it.

Again, check with the state board just to be 100% sure but it looks like you’re all clear to sit for the exam at this point, no reason to wait until you have the experience.

Good luck and please check in with us to let us know how your exams turn out!

AICPA Accounting Competition Offers Cash Prizes to Top (Pretend) Fraud Fighters

Are you an accounting undergrad interested in forensic accounting and cold hard cash? If you are, you might be interested in the 2011 AICPA Accounting Competition, which asks college students to flex their fraud and forensic skills in advising a fictional client on a major overseas expansion. The top three teams will strut their stuff in Washington D.C. on the AICPA’s dime, and the one that does the best job keeping the project on track — and on the right side of the law — gets a very legal $10,000. Legal if you pay taxes on the prize money, of course.


The American Institute of Certified Public Accountants has launched its second annual case competition, challenging college students across the country to test their fraud and forensic accounting skills in a complex scenario that will earn the top performing team a $10,000 award.

The 2011 AICPA Accounting Competition, which unfolds in three stages, focuses on a fictional Texas company looking to expand its business into the Nigerian oil fields. The competition is open to undergraduate students at 2-year and 4-year degree institutions in all 50 states, the District of Columbia, Puerto Rico, Guam, American Samoa, the Northern Mariana Islands and the U.S. Virgin Islands. Because this contest is open to any 2 or 4 year accounting students, this would be a great opportunity for a few future fraud fighters from smaller, less prestigious accounting programs – so if any enthusiastic professors happen to see this, please pass it along.

“The competition is an opportunity for students to get a hands-on, real-life understanding of one of the fastest-growing interest areas in accounting: fraud and forensics,” said Jeannie Patton, AICPA vice president for students, academics and membership. “Those who participate will hone their teamwork and leadership skills, deepen their understanding of financial risks in international business strategy and potentially bring national attention to their college or university.”

Participants in the competition must work in teams of four students, two of whom must be accounting majors. One of the accounting majors must serve as team leader. First round submissions, which are due September 30, will be evaluated to determine a pool of 10 semifinalists. Those semifinalists will compete for three finalist spots, a chance to travel to Washington, D.C. for the final round and three cash awards: $10,000 for first place; $5,000 for second; and $2,500 for third.

Entrants will be expected to outline, in 750 words or less, double-spaced, the top three fraud risks for High Prairie Construction’s plan to expand into the Nigerian oil fields. Would this move increase the risk of fraud within the company? Are there factors within the company’s culture that leave it vulnerable to fraud? Is High Prairie exposed to risk under the FCPA and UK Bribery Act? All of these are considerations you’d make in your summary.

Teams may register and find complete details on the 2011 AICPA Accounting Competition section of the This Way to CPA website.

Becker Partners With GE China to Deliver CPA Review To Its Employees

With GE slowly but surely shipping most of its important business over to the People’s Republic of China, this could work out to be quite the lucrative deal for the folks at Becker.

Becker Professional Education announced last week that it has entered into an agreement with GE China to provide, through its licensee in the People’s Republic of China, its complete, four part CPA Exam Review course to GE employees in the People’s Republic of China. Becker will also be providing extensive assistance with the CPA Exam application process to GE China employees.

“This partnership represents a tremendous opportunity for Becker to expand our leading international position with a strong partner in GE China,” said Matt Kinnich, Vice President, International and Business Development of Becker Professional Education. “We will be able to help a great number of GE China employees achieve their career goals through our quality course offerings.”

What this means, in simpler terms, is that some guys in China will be authorized to teach out of Becker books, likely using Becker’s own “lesson plan” text which all Becker instructors receive to teach from. I wonder if they’ll edit out some of the written-in jokes to translate for a Chinese audience?

Becker already offers live courses in Shenzhen, Guangzhou, Shanghai and Beijing.

PwC, Crowe Horwath Sued for Colonial Bank Failure

Ed. note: Our permanently ink-stained wench is still struggling with Internet connectivity after a small storm swept through the DC area, so we now present the following post that is republished with permission from Jr. Deputy Accountant.

A-ha! I hate to say I told you so (no I don’t) but, uh, I told you so.

In August of 2009, I caught PwC digging around on my site to find out more about the Colonial Bank failure, a failure which PwC itself oversaw and maybe just participated in (if indirectly, naturally). The year before Colonial’s epic failure, PwC auditors gave the bank the all clear.

“In our opinion, the consolidated financial statements listed in the accompanying index present fairly, in all material respects, the financial position of The Colonial BancGroup, Inc. and its subsidiaries at December 31, 2008 and 2007 and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2008 in conformity with accounting principles generally accepted in the United States of America,” read the opinion.

Anyway, fast-forward two years and here we are:

Colonial Bancgroup Inc (CBCDQ.PK) and its trustee filed a lawsuit against former auditors PricewaterhouseCoopers LLC and Crowe Horwath LLP, charging them with accounting malpractice and professional negligence for not catching a fraud that led to the bank’s collapse.

The complaint was filed late on Wednesday in a Circuit Court in Montgomery County, Alabama.

It also accuses the auditors of breach of contract, saying that PwC’s independent audits of its financial statements violated generally accepted accounting standards and served to conceal the seven-year fraud that drained it of $1.8 billion and left it with hundreds of millions of dollars in worthless or nonexistent assets on its balance sheet.

Can someone please tell me why the PCAOB still has a job with this nonsense going on? Furthermore, why does PwC make $13 billion a year soaking its clients with audit fees? And why aren’t the people of the United States suing the shit out of these auditors too? Colonial was the 6th largest bank failure in U.S. history and cost taxpayers $3.8 billion.

Anyone else find it funny how they call the audit service arm “Assurance”? It has nothing to do with discovering fraud or giving investors actual peace of mind that the statements they are looking at are, in fact, prepared in accordance with GAAP. Rather it is a mafia-style pay-to-play protection ring that offers clean audit opinions in exchange for cash.

Vomit. All over Dennis Nally’s impeccably polished wingtips.

Is a FASB Internship the Path to Prosperity?

Ed. note: If you’re desperate for career advice from a couple of Big 4 refugees or someone who won’t bother sitting for the CPA Exam, shoot us an email at advice@goingconcern.com. Thanks for your support of Going Concern.

A reader asks on behalf of a “friend”… right:

GC,
A friend of mine was accepted as one of the FASB interns right out of his master’s program, and was wondering what he can expect regarding salary/perks when he is done with the internship. They choose 12 total people per year. His email would give away his name, so I had to send it.

We are not looking for specific numbers, rather, with your past experience, would you expect firms to offer higher salary and perks osed “elite” position? He merely wants a 2nd year salary and to get his CPA bonus and materials paid for (since he lost these benefits by declining his current offer from one of the Big 4.

Thanks again,
Young and Naive.

First off, Y&N, we’d be remiss if we didn’t point out here that we don’t make a habit of publishing email addresses under any circumstances, so in the future, your “friend” is welcome to get in touch directly and we will not blab to everyone about “his” business. Then again, with 12 folks entering this “elite” position, it’s not that hard to narrow down the choices and figure out who is who. But who cares?

You mentioned that your “friend” turned down a Big 4 offer (presumably to take this FASB internship) so what are you, er, he thinking is going to happen when the internship is over? All Big 4 firms pay for CPA review, most of the larger firms offer some sort of CPA bonus so he’d be wise to get as much done as he can during the internship so he can knock out that last part just after the ink has dried on his offer letter and get the larger bonus offered.

That said, not sure if you’ve heard but FASB isn’t exactly the elite accounting standard setting body it once was back in the days before mark-to-market. It’s hard to tell you – er, your “friend” – how valuable this internship will be without knowing more about what it entails. If it’s some legitimately elite program that only a handful of accounting students qualify for every year that will teach your “friend” the ins and outs of accounting standard setting under the watchful guise of seasoned pros, perhaps your “friend” will have a little leverage when it comes to negotiating a better payout in public accounting after leaving FASB but I wouldn’t expect to be pulling 6 figures or anything. In fact, I wouldn’t expect much at all beyond the usual salary bump one gets for being a high performing MAcc student with skills beyond binge drinking.

Could this be the Postgraduate Technical Assistant Program, by chance? You don’t have to tell us, lest your “friend” get put on blast, just asking.

Obviously this valuable experience will put your “friend” a step above slackers, and will teach your “friend” all sorts of marketable skills such as time management, prioritization and critical thinking in the scope of accounting, not to mention offer all sorts of networking opportunities should your “friend” decide to stay or return to the realm of policy over public drudge work. In the long run, these skills will probably be worth more (figuratively, not literally in the sense of buckets of cash delivered to this person’s front door just for being such a talented human being) than any imagined huge salary perk your “friend” is expecting for coming into public with this experience.

This experience will get your “friend” into the Big 4 if that is the route “he” wants to take, and “he” may even be able to play “make the firms fight over who gets to have me” but “he” will likely have to put in blood, sweat, tears and – most importantly – time just like the rest of the grunts to make the big money.

Will “he” have a competitive advantage? Yes. Is that worth more money in the big picture of things? Yes. Is your “friend” going to be offered $30k more than his “average” MAcc classmate just because he went through this program? Doubtful. Is his lifetime earning potential slightly more due to the experience, knowledge and connections he will gain through this program? Totally.

Why did you write us to ask this? Just to have people congratulate you – er, your “friend” – for nailing such a “supposed ‘elite’ position?”

Embezzling Accountant Will Pay Back Stolen Money and Pay For the Audit That Caught Him

In aren’t you glad these aren’t your internal controls news, former SDN Communications chief accountant Bradley Whitsell of Sioux Falls, SD pleaded guilty to mail fraud on Monday. The U.S. Attorney’s office states that 46-year-old Whitsell used his various oversight positions to embezzle more than $392,000 over a 10 year period beginning in 2000.

According to court documents, Whitsell used company accounts to pay his credit card bills and pay private school tuition. He also wrote checks to himself, redirected electronic payments to cover his expenses, created company checks on his office printer and requested reimbursement for expenses that already were paid by SDN to pay for various personal expenses, including a large landscaping project at his residence and his country club membership.

Whitsell used access to the company’s accounts payable system to change approved vendors’ names with his own, or with those of companies to which he owed money. He would then print out these checks on his office printer and change the names back to the appropriate vendor in the A/P system.

Whitsell could end up in prison for up to 20 years. He initially pleaded not guilty in June to one count each of Mail Fraud and Wire Fraud, each of which could potentially carry a 20 year sentence and a $250,000 fine. U.S. Attorney Brendan Johnson states that Whitsell has agreed to pay back the $392,111.65 and will also cover the $84,000 cost of the audit that uncovered his theft.

SDN CEO Mark Shlanta stated officials started noticing “financial irregularities” connected to Whitsell last year, at which time he was put on administrative leave so the company could conduct a forensic audit and internal investigation. Whitsell resigned before the investigation began (hint: red flag). “It’s been embarrassing for me,” Shlanta said. “I’ve been saddened by the events. Really, I felt betrayed in this past year. Brad was someone I hired and trusted.”

The interesting part of this otherwise droll and useless story is that before the house of cards came crashing down all around him, Whitsell served on the City of Sioux Falls audit committee, not only as a member but as its chair.

Back in June, Sioux Falls Councilor Vernon Brown told one SD blogger that Brad Whitsell received high marks from committee members for his work on the Audit Committee in setting up internal controls for city government. Oh the irony.

Whitsell is currently free on bond and returns to court for sentencing November 7th.

Former SDN accountant pleads guilty to mail fraud [HC]
Former SDN executive admits to mail fraud [AL]

What Happens If CPA Candidates Can’t Meet the Work Experience Requirement?

What happens when you have too few jobs for too many would-be CPAs who have the exam passed but no job prospects to meet the work experience requirement?

The CPAnet forums hit just that, asking if CPA exam scores ever expire:

I have passed all four sections of the CPA exam but currently I am not working under the supervision of a CPA. Is there a time limit on when to get the cpa license after passing the exams? Any consequence of not obtaining the license within the timeframe?

In fairness, one of the posters only passed completely in January, so it isn’t like they’ve been sitting on passing CPA exam scores for three years with no luck. Where are those people?

Anyway, in a world where there are too many warm bodies and not enough chairs, it’s useful to know whether you’ll have to sit for the CPA exam all over again in 5 years when you finally get a job or not.

The general rule, as with most aspects of the CPA exam, is that it varies by state. In California, you will have to take additional CPE after 5 years if you don’t meet your licensure experience requirement by then.

Or, it could be that there are plenty of jobs but not for people who aren’t capable of doing them.

The problem could be picky HR professionals on the other end, and I wouldn’t blame them at all. If I were in HR, I’d be wary of folks like this who spell their former employer’s name wrong. Maybe that’s not important to hiring managers and recruiters or I’m giving them too much credit for being that perceptive but there is a minimum here; it isn’t hard to meet it.

Uncategorized

Global Robert Half Study Reveals Financial Executives Are Trippin’ Over Retaining Talent

Forgive me for suggesting this to (alleged) financial professionals but perhaps if they treated their current talent like, well, talent as opposed to third-rate street whores, they might not have this problem. One need look no further than the comment section on any of our salary posts to find warranted discontent, anger, frustration and threats of exodus.

The Robert Half Global Financial Employment Monitor was developed by Robert Half International and is based on surveys conducted by independent research firms. The study, focusing on hiring difficulties, retention concerns and business confidence, includes responses from more than 6,000 financial leaders across 19 countries.

Here are the key findings:

• Two-thirds, 67 percent, of financial leaders reported at least some level of recruiting difficulty. Approximately one out of five (19 percent) respondents said it is very challenging to find skilled accounting and finance professionals today.

• Retention concerns are rising. Globally, 56 percent of executives said they are either very or somewhat concerned about losing top performers to other job opportunities in the year ahead. This is an 11-point jump from the 2010 survey.

• In the United States, 43 percent of executives cited worries about keeping their best people. This is up from 28 percent in 2010.

• Eighty-nine percent of respondents reported being at least somewhat confident in their organization’s growth prospects for the coming year.

Survey nerds can dig deeper into the research highlights or data tables for more information.

More disturbing, retention issues seem to be a globally pervasive issue. More than half of executives, 56 percent, said they are very or somewhat concerned about losing valued employees to other opportunities in the coming year. This compares to 45 percent who cited retention concerns in the 2010 survey.

In some countries, the results were much higher. The number of executives worried about keeping key employees is up 16 points in Singapore, for example; 91 percent of respondents there said they see retention as an issue. In Hong Kong and Brazil, 88 percent and 85 percent of financial leaders, respectively, noted retention concerns.

What this means, of course, is that if any of you are desperate for work and somewhat decent at your jobs, you might want to look into tapping these markets. Despite what the IASB may like you to think, U.S. GAAP isn’t dead and knowledge of it is still a marketable skill, though a decent command of international standards will obviously benefit you more going forward.

Or turn your keepers’ fears into a tool to be leveraged and get yourselves raised up to at least second-rate street whore. Stranger things have happened.